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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Brian Hornby who wrote (13403)	1/24/1999 7:46:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

Scott asked me the same question and I don't know that I can offer you a definitive response. I generally trade against a gap open on the spoo -- except where there is a strong momentum in a particular direction -- and in that case I will not trade against the trend during a gap open. The only exception is when there is a very emotional reaction to some news or event and in such an instance I'd consider doing so with a tight stop. On the day in question that you referred to in your post, while the trend was up, it was not a case of over-powering momentum and so I was willing to take a shot at it -- really a subjective decision to some extent. The other factor that comes into play is whether I can place a stop at logical point so that the downside is limited. Hope that this is responsive to your question.